3 REASONS WHY NO ONE WOULD HACK BITCOIN

Have you ever thought why no one would hack bitcoin? You might be thinking that it’s a cryptocurrency and based on blockchain and nobody can hack them. But what if it can be hacked in spite of being a blockchain cryptocurrency.

So, today we’ll discuss why no one would hack bitcoin even if they could. So, here are some reasons why no one would hack bitcoin.

1. If it gets hacked it’s price would fall to $0

NO ONE WOULD HACK BITCOIN fall to $0

The market determines the price of bitcoin.

If there are no buyers, then the price will fall to zero.

The same principle applies to any other asset.

If bitcoin gets hacked, it is possible for its price to fall to zero. Hackers can break into bitcoin’s system and change the record of all transactions at any time. This would lead to a loss of trust among the users and they would stop investing in it which would result in a drop in its value.

Thus, if anyone hacks bitcoin, then the price would surely fall as everybody starts to lose their mind to the world’s most trusted cryptocurrency. This will lead to the downfall of Bitcoin and loose its current value. So, what would the hacker get with no valued bitcoin? Interesting right?

2. It would cost around $8 Billion

NO ONE WOULD HACK BITCOIN $8 billion

Firstly, Hacking bitcoin means hacking into the blockchain. This is not an easy task to do and would cost lots of billions. This assures that the bitcoin is secure.

Who would spend billions of dollars to hack bitcoin just to see the price of bitcoin falling to $0 and get nothing? I guess nobody.

3. Not enough good manufacturing tools

The deadly cause of China's crackdown on crypto mining

Hacking bitcoin is a more difficult task than it may seem. One of the challenges that hackers face is that there are not enough good manufacturing tools to help them with this process.

The lack of such tools can be seen as a blessing in disguise as it makes the process of hacking bitcoin more difficult and time-consuming.

Furthermore, Cryptography is the base of cryptocurrency with blockchain. Hacking bitcoin requires a deep understanding of how it works and what the technology is capable of. Thus, Cryptography is a mathematical discipline that includes both traditional problems in pure mathematics and modern applications such as designing secure communications, coding theory, and computational number theory.

Learn more about crypto and blockchain at Crypto Academy – Neew Bitcoin Bank.

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